secwatch.observer — SEC 8-K summary
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Issuer:     Clearfield, Inc. (CLFD)
CIK:        0000796505
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001171843-23-002886
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clearfield Q2 revenue up 34% to $71.8M; cuts FY23 guidance on customer inventory digestion
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- Revenue $71.8M (+34% YoY), net income $10.4M ($0.67 diluted EPS), gross margin fell to 32.8% from 43.3%.
- FY23 guidance slashed: net sales $260-275M (midpoint down ~$120M), EPS $1.80-2.10 (down $2.45 at midpoint).
- Order backlog declined 21% sequentially to $107.6M on faster fulfillment and normalizing ordering patterns.
- CEO cites demand lull as Large Regional Service Providers and cable operators digest excess pandemic inventory.
- Company rightsizing capacity to current demand but maintains long-term rural broadband build optimism.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/796505/000117184323002886/0001171843-23-002886-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/796505/000117184323002886/f8k_050423.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-002886

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